SPY 196.32 to 196.75 price zone contains four different chart element values including the daily pivot value and the SPY 15min 50sma
at this moment, this price zone needs to be defended by buyers into the Wednesday p.m. through Friday a.m. "expected" weekly low timeframe
if buyers do not step up at this 196.32 to 196.75 SPY price zone , the ES will likely target the $1940's in the coming hours/days
* sellers need to defend bounces back up to the 196.60 price level, to continue this decline to lower levels
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context for the internals ... requires daily consideration:
the McO's for all the US major indices, and for the majority of S&P 500 index sectors are improving to chart levels which must be recognized mounts a potential sustained upward attack up to the August highs for all these McClellan Oscillators in the future
all but a few of the McO's directly related to the S&P 500 index are now above their zero line and some McO's reside above their prior September highs
in addition, the McO for the WLSH 5000 and for the S&P Mid Cap index are making noteworthy chart recoveries